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In September 2025, BitMaestro emailed BitPinas regarding a potential collaboration for a community he was building, which went unanswered as BitPinas is strictly a news publication. This week, BitPinas attempted to message the same email address, but it is no longer available. Should BitMaestro read this article, know that BitPinas is open to hearing your side of the story. Conversely, if anyone reading this is a victim or has more information, please message [email protected]
Note: Before this article was published, BitPinas learned that BitMaestro announced his permanent departure from public content creation and the shutdown of his community project, The Vault 7641. It is also important to note that BitMaestro is an undoxxed content creator, his true identity is not known to many in the local crypto community.
Local cryptocurrency influencer BitMaestro is facing a wave of backlash from the Filipino web3 community following allegations of involvement in a scam token and the mismanagement of his own paid NFT project. The alleged rugpull drew reactions from the community, including from industry veteran George Asibal of ZFT.
- The controversy centers on two main issues: BitMaestro’s alleged promotion of $HEDGE, a Solana-based token that resulted in a “rugpull,” and the stalled launch of his exclusive community project, The Vault 7641.
- As crypto influencers began disassociating themselves from BitMaestro, Asibal weighed on the issue. He acknowledged the validity of some community concerns while calling for shared responsibility between influencers and investors.
The $HEDGE Token ‘Rugpull’
The primary accusation stems from BitMaestro’s alleged promotion or “shilling” of the $HEDGE token to his followers. The token is then promoted by other influencers supposedly under the direction, guidance, or suggestion of BitMaestro.
The project eventually collapsed in a rugpull, a fraudulent exit where developers abandon the project and drain investor funds.
The incident caused collateral damage within the local influencer sphere. One of them is the content creator “Payamanners” who admitted to promoting based on their trust in BitMaestro.
“Confident ako dahil si BitMaestro ‘yun (I was confident because it was BitMaestro),” Payamanners stated in a Facebook post regarding the incident.
Suspicious Behavior and ‘The Vault’
Following the collapse of $HEDGE, community members flagged what they described as suspicious behavior from the influencer.
Critics noted that BitMaestro changed his Telegram username shortly after the issue escalated, which some interpreted as an attempt to evade accountability. Additionally, users claimed that members within his private Discord server, “The Vault,” were banned for raising valid criticisms or seeking clarity on the situation.
The scrutiny intensified regarding his own paid NFT collection, The Vault 7641, marketed as an exclusive “Vault Pass” for his community.
According to community reports, the project had already commenced minting, selling 154 out of 2,222 NFTs and collecting approximately 53.65 SOL (valued at roughly ₱439,000 at the time). However, the project stalled, with BitMaestro later admitting that “the mint launch failed.”
BitMaestro’s Defense
In a pinned message on Telegram prior to his page’s deletion, BitMaestro issued a statement denying malicious intent.
He categorically denied profiting from the failed $HEDGE token, stating, “I didn’t profit a single peso.” He also contested claims that he heavily promoted the scam, arguing that his role was limited to connecting the project with a collaboration manager.
Regarding the oversight, he admitted to negligence. “Should I have vetted things more carefully? Yes. That’s on me,” he wrote. Addressing The Vault 7641, he asserted that he is “not walking away” and that the team is revising the project internally.
ZFT Founder Weighs In: ‘Time is the Truth Teller’
George Asibal, founder of the trading community ZFT, released a statement to address his connection to the project, confirming that he, like many other Key Opinion Leaders (KOLs), was invited to The Vault to network.
Asibal validated some of BitMaestro’s efforts; He noted that the infrastructure built for The Vault was “pretty amazing” and “more organized than our Discord.” However, he also flagged suspicious activities following the scandal.
“I tried to backread the telegram accounts by the team and BM, but it seems deleted already… which is sus,” Asibal noted in English and Filipino. At this point, BitMaestro’s Facebook page is no longer available.
“You are Accountable Too” — A Sharp Rebuke to Influencers
Asibal’s statement included a sharp rebuke of fellow influencers who attempted to distance themselves from the scandal once it imploded.
In his post, the ZFT founder used the local idiom “hugas kamay” (washing hands) to describe KOLs who, after promoting the project, are now releasing statements claiming innocence or victimhood to save their reputations.
“I’m reading a lot of emotionally charged and hugas kamay posts especially since a lot of money just got flushed,” Asibal wrote.
He argued that influencers cannot simply claim they were “just sharing” or were victims themselves once a project rugs. According to Asibal, the act of “shilling” (promoting) a token inherently makes the influencer part of the project’s success or failure in the eyes of their audience.
“If you shilled it, you played a part,” Asibal asserted. “Just be responsible next time and always tell people the risks… If you got a kickback for shilling, know that there are consequences to these things.”
This commentary appears to be a direct response to the wave of “clarification” posts from various influencers who, like Payamanners, admitted to promoting $HEDGE but cited their trust in BitMaestro as their justification.
BitMaestro Quits
On Monday, BitMaestro shared a statement through their Discord channel, shared by Cryptology Academy, announcing the immediate shutdown of his operations.
“Between coordinated attacks, false narratives that have been accepted as truth, and the impossibility of defending myself without making things worse, the path forward became clear.
I tried to build something meaningful for the Web3 community. When the mint failed, I tried to revise our system. But when one mistake became twisted into accusations of “rugpulling” and scamming, the environment became impossible to work in.”
BitMaestro stated:
- “The past 24hrs have made it clear that continuing isn’t sustainable,” he wrote. He also mentioned the “impossibility of defending myself without making things worse.”
- He announced that The Vault 7641 is shutting down and that a refund form has been posted for minters. Investors have a two-day window to submit claims.
- Despite quitting, he maintained his innocence regarding the $HEDGE scam. “I never promoted or shilled memecoins in the Vault community,” he stated, adding, “I did not rugpull.”
- He claimed his Facebook page had been suspended since November, preventing him from addressing the accusations sooner.
“This isn’t the ending I wanted, but it’s the right one given the circumstances,” BitMaestro concluded. “Fighting a losing battle helps no one.”
According to the SEC’s Crypto Asset Service Provider Rules, what constitute as unauthorized promotion includes: Social media endorsements. (Read more: PH SEC Final Crypto Rules Targets “Educational” Events, Ads, Airdrop, & Content)
Only entities registered as a corporation under Philippine law and with the necessary licenses (from the SEC) may lawfully market or induce the purchase of crypto-assets or services.
If a person or entity engages in marketing without proper authorization, they are in violation of the SEC Rules. This applies regardless of the marketing channel used, including social media, events, blogs, videos, or even educational content if not made in good faith and for free.
Violating the SEC’s rules on promoting crypto-assets may result in administrative fines ranging from ₱50,000 to ₱10,000,000 per violation, plus ₱10,000 per day for ongoing infractions, and up to three times the profit gained or loss avoided.
The SEC may also impose criminal penalties (₱50,000 to ₱2,000,000 in fines and/or 1–5 years imprisonment), suspend or revoke licenses, issue cease and desist orders, and require disgorgement of unlawful gains.
This is a developing story: BitMaestro Under Fire Over $HEDGE ‘Rugpull’ Links; ZFT’s Asibal Reacts
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